AGL 40.29 Increased By ▲ 0.09 (0.22%)
AIRLINK 130.29 Increased By ▲ 1.18 (0.91%)
BOP 6.29 Decreased By ▼ -0.31 (-4.7%)
CNERGY 4.04 Increased By ▲ 0.01 (0.25%)
DCL 8.82 Increased By ▲ 0.37 (4.38%)
DFML 42.75 Increased By ▲ 1.50 (3.64%)
DGKC 87.41 Increased By ▲ 0.41 (0.47%)
FCCL 33.78 Increased By ▲ 0.43 (1.29%)
FFBL 65.90 No Change ▼ 0.00 (0%)
FFL 10.69 Increased By ▲ 0.15 (1.42%)
HUBC 113.75 Increased By ▲ 3.05 (2.76%)
HUMNL 16.10 Increased By ▲ 0.87 (5.71%)
KEL 4.80 Increased By ▲ 0.02 (0.42%)
KOSM 7.99 Increased By ▲ 0.16 (2.04%)
MLCF 42.05 Increased By ▲ 0.15 (0.36%)
NBP 61.10 Increased By ▲ 0.60 (0.99%)
OGDC 184.79 Increased By ▲ 1.99 (1.09%)
PAEL 25.55 Increased By ▲ 0.19 (0.75%)
PIBTL 7.26 Increased By ▲ 1.00 (15.97%)
PPL 146.55 Decreased By ▼ -1.26 (-0.85%)
PRL 24.56 No Change ▼ 0.00 (0%)
PTC 16.47 Increased By ▲ 0.23 (1.42%)
SEARL 70.45 Decreased By ▼ -0.05 (-0.07%)
TELE 7.36 Increased By ▲ 0.06 (0.82%)
TOMCL 36.28 Decreased By ▼ -0.02 (-0.06%)
TPLP 8.13 Increased By ▲ 0.28 (3.57%)
TREET 15.87 Increased By ▲ 0.57 (3.73%)
TRG 51.44 Decreased By ▼ -0.26 (-0.5%)
UNITY 27.46 Increased By ▲ 0.11 (0.4%)
WTL 1.28 Increased By ▲ 0.05 (4.07%)
BR100 9,893 Increased By 51.1 (0.52%)
BR30 30,290 Increased By 253.7 (0.84%)
KSE100 93,026 Increased By 505.2 (0.55%)
KSE30 28,881 Increased By 94.4 (0.33%)

Poor financial or economic management has led to increasing the country's circular debt. This astronomical rise in debt has been attributed to highly mismanaged power sector after top positions of public sector's power companies have been occupied by Power Ministry's officials. The circular debt piled up again after the government cleared Rs 480 billion soon after coming to power in June 2013 due to less recovery and high losses. According to a Business Recorder report, the current stock of Rs 525 billion is in addition to Rs 400 billion loans availed by the power Distribution Companies (Discos) and parked in the books of Power Holding Company Limited (PHPL).
These figures constitute a rebuttal to incumbent government's claims in relation to fiscal prudence and discipline in particular. It has already taken the stock of country's external debt to an unprecedented high. In order to meet its budgetary requirements, the government has planned record borrowings in this quarter of the fiscal year 2017-18. The so-called economic czar, Ishaq Dar, is said to be unwell; country's economy is not well either. There seems to be no light at the end of tunnel at this point in time.

Copyright Business Recorder, 2018

Comments

Comments are closed.